IT slowdown expected

By Cate Rocchi Long/short funds are moving to take advantage of uncertain sentiment hanging over the technology sector which is continuing to cause market volatility in the US. Spending on that sector's products and services has been cut and even established technology companies such as Oracle are issuing profit warnings. The Nasdaq Composite is down 54% over the past 12 months. US-based Ahmet Okumus, fund manager of the Okumus Opportunity Fund, said: "We have been meeting with a lot of companies at the CEO, CFO and chief technology officer level and they are clearly expecting a...